Broadcom Inc. - AVGO STOCK NEWS

Broadcom (NASDAQ: AVGO) announces expanded VMware Cloud Foundation (VCF) services and partnerships at VMware Explore 2024 Barcelona. The company introduces new Advanced Services including VMware Tanzu Data Services for VCF, enhanced cyber security features with VMware Live Recovery supporting Google Cloud, and expanded AI capabilities through Microsoft's Azure AI Video Indexer integration.

The platform aims to accelerate AI development, strengthen cybersecurity, and support sovereign cloud adoption. Notable updates include a 50% discount on certification exams for VMUG Advantage members, new VCF Architect certification, and expanded support for sovereign cloud services through 50 VMware Cloud Service Providers.

Broadcom (NASDAQ: AVGO) announced major advancements in its VeloCloud portfolio, introducing VeloRAIN (Robust AI Networking) architecture and new edge appliances. The company launched VeloCloud Edge 4100 and 5100 appliances, scaling up to 100Gbps for large enterprises. The announcement includes the new Titan partner program for VeloCloud Managed Service Providers, replacing the legacy VMware program. The VeloRAIN architecture enhances AI workload performance and security, featuring AI application detection, enhanced network efficiency, and dynamic policy frameworks. According to Broadcom's research, 57% of organizations cite network connectivity as the main driver for edge solutions adoption.

Broadcom and Telia Company have expanded their partnership through a new multi-year agreement focused on modernizing telco and cloud infrastructure. Telia will enhance its network and IT cloud capabilities using VMware Telco Cloud Platform and VMware Cloud Foundation. As a newly designated Broadcom Pinnacle Partner, Telia aims to expand its cloud-native architecture, advance automation across network workloads, and streamline operational efficiency. This partnership enables Telia to deliver new monetizable 5G and cloud services to customers in the Nordic and Baltic regions.

Broadcom Inc. (NASDAQ: AVGO) is hosting VMware Explore 2024 Barcelona from November 4-7 at the Fira Gran Via. The event will feature over 400 sessions across five content tracks, covering topics such as private cloud, generative AI, app delivery, and edge computing. On November 5, Broadcom President and CEO Hock Tan will deliver a keynote address titled "Shaping the Future of Cloud and AI Innovation" at 9:00 a.m. CET.

The event offers attendees:

• Breakout sessions and labs on various technology topics
• Certification training
• Access to top ecosystem partners at The Expo
• Networking opportunities with global peers

Deutsche Telekom's T-Systems and Broadcom have expanded their long-standing partnership. T-Systems has achieved the highest VMware Cloud Service Provider (VCSP) Pinnacle tier partner status in the Broadcom Advantage Partner Program. This status signifies T-Systems' deep technological expertise and close collaboration with Broadcom to help customers adopt advanced digital technologies.

Key highlights of the expanded partnership include:

• T-Systems will offer managed private cloud services, including sovereign cloud services, based on VMware Cloud Foundation (VCF)
• As a Pinnacle Partner, T-Systems supports the VCSP White Label model, enabling other partners to offer VMware products under their own brand
• The partnership strengthens T-Systems' multi-cloud strategy and global service offerings
• T-Systems and VMware (now Broadcom) have collaborated for 20 years, with T-Systems offering tool-based migration to VMware technology and establishing a VMware Cloud Center of Excellence

Broadcom Inc. (NASDAQ: AVGO) announced its continued momentum in enabling AI infrastructure through open standards, scalability, and power-efficient solutions at the 2024 Open Compute Project (OCP) Global Summit. The company will showcase advancements in Ethernet, PCIe, and optical networking products designed for AI applications.

Key innovations to be featured include the Tomahawk 5 and Jericho3-AI Ethernet switches, Trident4-X11 Ethernet switch, Tomahawk 5 - Bailly CPO Ethernet switch, 400G PCIe Gen 5.0 Ethernet adapters, PCIe Gen 5.0 switches, PCI Express Gen5/Gen6 retimers, and Sian2 DSPs for AI clusters.

Broadcom will also participate in various talks and panel sessions, covering topics such as hardware management, cooling solutions for high-density AI clusters, optical power consumption reduction, and PCIe Gen 6 support in OCP NIC 3.0.

Broadcom, Charter Communications, and Comcast have announced a joint development of Unified DOCSIS chipsets for network nodes, smart amps, and cable modems. This collaboration aims to enable both FDX and ESD versions of the DOCSIS 4.0 specification, potentially delivering speeds up to 25 Gbps over existing networks. The initiative includes:

1. Economies of scale for the industry
2. A robust vendor ecosystem
3. Streamlined CableLabs certification

The technology will incorporate advanced Artificial Intelligence and Machine Learning capabilities, utilizing Broadcom's embedded Neural Processing Unit (NPU). This will enhance network performance, security, and reliability through features like channel anomaly detection, predictive network management, and advanced cybersecurity.

The collaboration also sets the stage for the next generation of DOCSIS, with plans to develop a path to 25 Gbps speeds by expanding supported bandwidth on hybrid fiber coax networks up to 3 GHz.

Broadcom Inc. (NASDAQ: AVGO) has announced the general availability of Sian™2, a 200 Gbps per lane (200G/lane) PAM-4 DSP PHY. This new product, along with the existing Sian DSP, enables pluggable modules with 200G/lane interfaces important for connecting next-generation AI clusters. The Sian family of products is designed to meet the growing demands of AI infrastructure, offering:

- Higher bandwidth (800G/1.6T links)
- Lower power consumption
- Lower latency
- Lower cost per bit

Sian2 supports both 800G and 1.6T pluggable modules, with features including support for multiple FEC options and built-in laser drivers. Broadcom is currently sampling the Sian2 BCM8582X device to early access customers and partners.

Broadcom Inc. (AVGO) reported strong Q3 FY2024 results, with revenue up 47% year-over-year to $13.072 billion. The company's AI semiconductor solutions and VMware acquisition drove growth. Adjusted EBITDA increased 42% to $8.223 billion, representing 63% of revenue. Free cash flow was $4.791 billion, or 37% of revenue. However, Broadcom reported a GAAP net loss of $1.875 billion due to a one-time tax provision.

For Q4 FY2024, Broadcom projects revenue of approximately $14 billion, a 51% increase from the prior year, with Adjusted EBITDA at 64% of projected revenue. The company expects AI-related revenue to reach $12 billion for FY2024. Broadcom also declared a quarterly dividend of $0.53 per share.